MNI POLICY: BOJ Kuroda: To Act Timely; BOJ, MOF, FSA To Meet

     TOKYO (MNI) - Bank of Japan Governor Haruhiko Kuroda said Monday that the

BOJ will cope with unstable market movements in an appropriate manner, carefully

watching future moves, although he didn't elaborate on when and how the BOJ

would consider taking additional easy policy.

     Kuroda told lawmakers, "Uncertainties are increasing due to the spread of

the coronavirus. Investors' sentiment has changed and stock prices fell around

the globe. Long-term interest rates dropped (around the globe) and the yen's

rise accelerated. Unstable movements continued."

     Kuroda added that the Group of Seven nations exchanged view on the outlook

for economy and the G7 nations stand ready to take necessary actions and the G7

nations agreed to maintain robustness in financial system.

     Kuroda stated that the BOJ bought JPY100 billion of ETFs (exchange

traded-funds) on March 2 and 6, although the scale of ETF buying at an operation

was JPY70 billion., adding that the BOJ continues make efforts to prevent risk

premium from rising  and will not hesitate to take action.

     The BOJ, the Ministry of Finance and the Financial Services Agency

officials will hold their regular meeting at 1530 JST (0630 GMT). They last met

on Feb. 25.

--MNI Tokyo Bureau; tel: +81 90-2175-0040; email: hiroshi.inoue@marketnews.com

--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com

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